Future Generali India Life Insurance Company Limited is now Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited – A joint venture between Generali – one of the world’s leading insurers and Central Bank of India, India’s finest nationalised bank.
Future Generali India Life Insurance Company Limited is now Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited – A joint venture between Generali – one of the world’s leading insurers and Central Bank of India, India’s finest nationalised bank.
Unified Solution
One plan for gratuity, leave encashment, and superannuation
Flexible Fund Options
Choose from 6 investment funds based on your risk appetite
Loyalty Addition Rewards
Annual loyalty units to boost your fund value
This is a Unit Linked Insurance Plan. In this Policy, the Investment risk in the Investment Portfolio is borne by the Policyholder. Generali Central Comprehensive Employee Benefit Plan. UIN: 133L080V02
Why Choose Generali Central Comprehensive Employee Benefits Plan?
A Unit-linked, non-participating (without-profits), fund based yearly renewable group insurance plan.
Running a business means juggling countless responsibilities, and employee benefit management can quickly become overwhelming. The Comprehensive Employee Benefits Plan simplifies everything by combining Gratuity, Leave Encashment, and Superannuation into one streamlined solution. Instead of managing separate policies with different providers, you get professional fund management, statutory compliance, and investment growth all under one roof.
Transform complex benefit administration into effortless workforce management while your contributions work harder for your employees' futures.
Complete Statutory Coverage
Manage Gratuity, Leave Encashment, and Superannuation all under one plan
6 Investment Options
Choose conveniently from Cash, Income, Enhanced Income, Secure, Balanced, and Growth funds
Loyalty Additions
Enjoy extra financial growth through yearly loyalty bonuses on fund performance
Flexible Contribution
Make contributions as per your funding requirements and cash flow
Tax Efficiency
Optimize your tax planning with compliant employee benefit contributions
How to Buy the Generali Central Comprehensive Employee Benefits Plan?
Getting started with your life insurance plan is easy, here’s how –
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Visit Us or Get in Touch
Visit our nearest branch or call our toll free number 1800-102-2355 or email us at group.quotes@generalicentral.com
Get Expert Advice from Your Trusted Life Insurance Partner!
Have questions? Get help and reliable support from experts at Generali Central Life Insurance.
Our Promise is Reflected in the Lives We've Touched
We bring experience, stability, and a proven approach to supporting your family and financial goals.
6019Our and Partners Branches
897,635Lives Protected
Since Inception
₹87.84 Bnof Assets Under Management
98.08%Individual Claim Settlement Ratio
FY 24-25
99.78%Group Claim Settlement Ratio
FY 24-25Data as on 31st March, 2025
Downloads
Everything you need to understand your policy, plan your future, and make informed decisions at your convenience.
Important Information & Resources
Understand your policy better with key details and insights into Generali Central Comprehensive Employee Benefits Plan.
Loyalty Additions
Loyalty Additions as a % of average fund value shall be added at the end of each financial year i.e. on every 31st March as per the below table, subject to policy being in-force at the time of payment of loyalty additions.
Where,
Average Fund Value = Average of Fund values on the first day of each of the calendar months falling in the financial year in which loyalty addition is payable starting from calendar month April in Year (X-1) till calendar month March in Year X for determining loyalty units on 31st March of Year X.
The Loyalty Addition Rate to be applied shall be based on Average Fund Value as computed above.
The Loyalty Addition Rate shall be proportioned for number of days the scheme was with the Company in the financial year in question.
The Average Fund Value of all schemes (Gratuity, Leave Encashment and Superannuation) managed by Generali Central for a given Master Policyholder (one company or all companies belonging to same group) under this product shall be clubbed to determine the size of fund for determining applicable loyalty addition rates.
Under this plan, the liability of Generali Central Life Insurance Company Limited (GCLIC) at any time will be limited to the Fund Value of the Scheme. GCLIC will only be concerned with fund management, and the Master Policyholder will have to bear any shortfall in funds, if it arises at any time. The liability of the company at all times will be limited to the balance of the Fund Value in the scheme.
Auto Renewal
On non-receipt of contribution, the policy will automatically get renewed as per the existing terms and conditions on each renewal date.
Partial Withdrawal
Partial withdrawal is not allowed under the product.
Except for exits as per the scheme rules, no other withdrawals will be allowed.
The amount payable pertaining to that member on exits shall be as communicated by the Master Policyholder to us.
Premium Allocation Charge:
The premium allocation charge depends on whether the group scheme is bought directly or through a sales intermediary. The premium allocation charge for a scheme as a percentage of contributions is as per the table below:
Premium allocation charges are deducted from contributions paid and the contributions, net of premium allocation charges, are used to purchase units in any of the six underlying funds as per choice of Master Policyholder.
Policy Administration Charge:
Nil
Surrender Charge:
0.05% of Fund Value subject to maximum of Rs. 5 Lac in the first policy year and Nil thereafter.
Grievance Redressal Processes
In case you have any grievances on the solicitation process or on the Product sold or any of the Policy servicing matters, you may approach the Company in one of the following ways:
- Calling the Customer helpline number 1800-102-2355 for assistance and guidance
- Emailing at care@generalicentral.com
- You may also visit us at the nearest Branch Office. Branch locator - https://www.generalicentrallife.com/branch-locator
- Senior citizens may write to us at the following ID: senior.citizens@generalicentral.com for priority assistance
- You may write to us at: Customer Services Department- Generali Central Life Insurance Company Limited, Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S Marg, Vikhroli (W), Mumbai – 400083
We will provide a resolution at the earliest. For further details please access the link: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure
Generali Central Life Insurance Company Limited (Formerly known as Future Generali India Life Insurance Company Limited) offers a wide range of life insurance solutions designed to protect and empower individuals at every stage of life. Whether it’s protecting your loved ones, planning for retirement, or securing long-term financial well-being, our offerings are designed to evolve with your needs. Backed by a robust distribution network and advanced digital tools, we are dedicated to delivering simplicity, innovation, empathy, and care in every experience — all anchored by our unwavering commitment to being your Lifetime Partner.
This commitment is backed by the strength of our joint venture between Generali, a global insurance leader with over 190 years of expertise, and Central Bank of India, a trusted name with a rich legacy in Indian banking.
Generali Central Comprehensive Employee Benefits Plan (UIN: 133L080V02)
- Unit Linked Insurance products are different from the traditional insurance products and are subject to the risk factors.
- The Premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder/insured is responsible for his/her decisions.
- Generali Central Life Insurance Company Limited is only the name of the Life Insurance Company and Generali Central Comprehensive Employee Benefits Plan is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
- Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document of the Company.
- The various funds offered under this group insurance schemes are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Past performance is not indicative of future performance, which may be different.
- Tax benefits are subject to change in law from time to time. You are advised to consult your tax consultant.
- For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the product brochure and consult your advisor, or, visit our website before concluding a sale. Tax benefits are as per the Income Tax Act 1961 and are subject to any amendment made there to from time to time. Generali Group’s and Central Bank of India’s liability is restricted to the extent of their shareholding in Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited (Formerly known as ‘Future generali India Life Insurance Company Limited’) (IRDAI Regn. No.: 133) (CIN: U66010MH2006PLC165288). Regd. Office & Corporate Office address: Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai - 400083
Email: care@generalicentral.com
Call us at 1800-102-2355
Website: https://www.generalicentrallife.com
For further details please access the link: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure
What Our Happy Customers Are Saying
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Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
The plan is bought by an employer as the master policyholder for groups with at least ten members. Member entry ages are between 18 and 79 years and maximum maturity age is 80 years. The minimum sum assured per member is Rs 10,000 for gratuity and leave encashment and nil for superannuation.
Claims requested by the master policyholder are paid from the policy fund to the master policyholder so they can make the benefit payment to the beneficiary. For gratuity and leave encashment an additional amount of Rs 10,000 is payable over and above the fund value.
The Systematic Transfer Option is an automated facility to move units monthly from a selected fund to a target fund through 12 staged transfers. It is requested and controlled by the master policyholder, is not applicable for superannuation schemes, carries no charge and can be stopped by the master policyholder.
Yes. Loyalty additions in the form of units are credited at the end of each financial year based on average fund value bands. The stated rates are nil for AFV below Rs 1 crore, 0.10 percent for AFV of Rs 1 crore to less than Rs 3 crore, 0.15 percent for AFV of Rs 3 crore to less than Rs 5 crore and 0.25 percent for AFV of Rs 5 crore and above.
Yes. On non receipt of contribution the policy will automatically renew on each renewal date under the existing terms and conditions.